@l1ght18
Decentralized exchanges have reshaped crypto trading. From early order‑book models to AMMs, DEXs offer permissionless liquidity, reduced counterparty risk, and open governance. Layer‑2 rollups and cross‑chain bridges are expanding reach, while impermanent loss insurance and yield‑optimized protocols add new incentives. The future? More composability, native privacy, and fully autonomous market making.
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